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ONCOCYTE CORP filed this 8-K on Nov 12, 2024

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ONCOCYTE CORP - 8-K - 20241112 - BALANCE_SHEET

ONCOCYTE CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)

	September 30, 2024			December 31, 2023
	(Unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	3,363		$	9,432
Accounts receivable, net of allowance for credit losses of $2 and $5, respectively		209			484
Inventories		232			—
Deferred financing costs		330			—
Prepaid expenses and other current assets		627			643
Assets held for sale		32			139
Total current assets		4,793			10,698
NONCURRENT ASSETS
Right-of-use and financing lease assets, net		3,001			1,637
Machinery and equipment, net, and construction in progress		3,494			3,799
Intangible assets, net		56,529			56,595
Restricted cash		1,700			1,700
Other noncurrent assets		699			463
TOTAL ASSETS	$	70,216		$	74,892

LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	872		$	953
Accrued compensation		1,906			1,649
Accrued royalties		1,116			1,116
Accrued expenses and other current liabilities		985			452
Accrued severance from acquisition		2,314			2,314
Right-of-use and financing lease liabilities, current		1,283			665
Current liabilities of discontinued operations		—			45
Contingent consideration liabilities, current		614			393
Total current liabilities		9,090			7,587
NONCURRENT LIABILITIES
Right-of-use and financing lease liabilities, noncurrent		2,708			2,204
Contingent consideration liabilities, noncurrent		48,707			39,507
TOTAL LIABILITIES		60,505			49,298

Commitments and contingencies

Series A Redeemable Convertible Preferred Stock, no par value; stated value $1,000 per share; 5 shares issued and outstanding at December 31, 2023; aggregate liquidation preference of $5,296 as of December 31, 2023		—			5,126

SHAREHOLDERS’ EQUITY
Preferred stock, no par value, 5,000 shares authorized; no shares issued and outstanding		—			—
Common stock, no par value, 230,000 shares authorized; 13,374 and 8,261 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively		326,682			310,295
Accumulated other comprehensive income		57			49
Accumulated deficit		(317,028	)		(289,876	)
Total shareholders’ equity		9,711			20,468
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	70,216		$	74,892